Jordan’s state utility Nepco is tapping up the London-based EBRD for $28.25mn to help finance the upgrade of its northern electricity network, with the project estimated to cost $35mn.
“The project is expected to be co-financed with an investment grant made available by other partners that will contribute towards the financing of the overall project costs,” the EBRD says. Nepco is drowning in debt with the IMF estimating the firm’s debts will reach $6.1bn by the end of 2024. (CONTINUED - 659 WORDS)
